Google (GOOG) Exec Doesn't See Virtual Currencies Going Away Anytime Soon

While it's debatable whether or not Bitcoin will be the de facto crypto-currency of the future, one notable tech exec doesn't see the segment disappearing anytime soon.

According to TechCrunch, Google's (Nasdaq: GOOG) Jared Cohen, director of ideas for the company, commented at SXSW over the weekend, I think it’s very obvious to all of us that crypto-currencies are inevitable ... There’s lots of value to it ... [but] there’s a danger to it not being regulated.

Anyone can make a crypto-currency, all you need is two parties which agree on the exchange value of the object. Many variations of Bitcoin have been created and even tech blogs are getting into the game (Ars Technica has its own 'arscoin' now).

Bitcoin last clicked through at around $627.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Google execs convened 'all-hands' meeting last week to address AI unit reorganizations amid staff concerns - Reuters
• Google unveils Pixel 11 Pro Fold with thinner design and new features
• Berkshire adds significantly to Alphabet position, starts small position in DR Horton